Multi-Building Mixed-Use Redevelopment
2135 W Armitage Avenue Chicago, IL 60647
2135 W Armitage Avenue, Chicago, IL, 60647
$6,500,000
For Sale
$6,500,000
COMMERCIAL - Chicago, IL
Property Size23,632 SF
Lot Size0.33 Acres
Price / SF$275.05
Days on Market22
Property Features for 2135 W Armitage Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- COMMR
- Standard status
- Active
- APN
- 14313040140000
- Lot size
- 0.33 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 72020
Utilities
- Utilities
- Water Available
- Cooling system
- Central Air
Building Details
- Year built
- 1908
- Floors in Building
- 1
- Number of units
- 6
- Building materials
- Brick, Concrete, Block
Listing agency
Baird & Warner
(312) 242-1000
Listed by
Peter Fotopoulos · License #471010854
(312) 265-8000
Added: Jul 1 Checked: Jul 22 at 11:06PM
MLS# 12692365
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is a multi-building redevelopment site that includes six separate buildings and multiple parking lots across 2135 through 2147 W. Armitage Ave. The existing improvements total approximately 23,632 square feet and include a three-story commercial mixed-use building at 2135; a one-story commercial structure at 2137; two-story mixed-use properties at 2139 and 2147; a partial two-story commercial building at 2141; and a two-story commercial property at 2145. Current on-site use includes a USDA chicken processing and retail business, along with masonry 2-3 flats. The property also provides outdoor parking for five cars or two trucks.
The site offers approximately 144 feet of frontage on Armitage Ave and a total land area of 14,400 square feet. It is described as located in the Bucktown area, less than two blocks from the Armitage and Damen intersection.
Zoning on the site includes COMMR and also references RT-4 for multiple addresses (2135, 2137, 2139, and 2147) and C1-2 for others (2141 and 2145). This configuration supports a variety of redevelopment approaches for commercial, residential, or mixed-use projects, with existing structures that can be evaluated for reuse, renovation, or replacement.
The site offers approximately 144 feet of frontage on Armitage Ave and a total land area of 14,400 square feet. It is described as located in the Bucktown area, less than two blocks from the Armitage and Damen intersection.
Zoning on the site includes COMMR and also references RT-4 for multiple addresses (2135, 2137, 2139, and 2147) and C1-2 for others (2141 and 2145). This configuration supports a variety of redevelopment approaches for commercial, residential, or mixed-use projects, with existing structures that can be evaluated for reuse, renovation, or replacement.
Key Highlights
- Redevelopment site at 2135‑2147 W. Armitage Ave with 144 ft frontage on Armitage and 14,400 SF land area (144x101)
- Includes approx. 23,632 SF of existing building space across six buildings (3‑story, 2‑story, 1‑story, and partial 2‑story)
- Zoning: RT‑4 for 2135, 2137, 2139, and 2147; C1‑2 for 2141 and 2145, supporting a range of future development uses
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $694.8k | $29.40 |
| − Vacancy | −$36.1k | −$1.53 |
| EGI | $658.7k | $27.87 |
| − OpEx | −$296.4k | −$12.54 |
| NOI | $362.3k | $15.33 |
23,632 SF · lease $29.40/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$5.18M
$4.53M – $6.04M
NOI $362,259 @ 7.0% cap · market cap 5.57%
Second Best
Retail
$4.67M
$4.09M – $5.45M
NOI $326,944 @ 7.0% cap · market cap 5.03%
Theoretical Best
Office A
$11.14M
$9.75M – $13.00M
NOI $779,969 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Redevelopment site with six buildings and 144 feet of Armitage Avenue frontage, suited for mixed-use or multifamily conversion.
Where is this apartment building located?
The property is located at 2135 W Armitage Avenue Chicago, IL.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Redevelopment site at 2135‑2147 W. Armitage Ave with 144 ft frontage on Armitage and 14,400 SF land area (144x101); Includes approx. 23,632 SF of existing building space across six buildings (3‑story, 2‑story, 1‑story, and partial 2‑story); Zoning: RT‑4 for 2135, 2137, 2139, and 2147; C1‑2 for 2141 and 2145, supporting a range of future development uses
